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Rich Asplund

Cocoa Rallies on Stronger Demand and Tighter Supplies

Ice ICCO Ivory Coast Ghana London

September ICE NY cocoa (CCU24) on Thursday closed up +305 (+3.93%), and September ICE London cocoa #7 (CAU24) closed up +303 (+4.79%).

Cocoa prices on Thursday moved sharply higher due to stronger-than-expected Asian cocoa demand.  The Cocoa Association of Asia reported Thursday that Asian Q2 cocoa grindings fell -1.4% y/y to 210,958 MT, a smaller decline than expectations of -2.0% y/y.

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